Regulatory Alerts2022-08-29 | DOF 5662754Added · Updated
Authorization for the Organization and Operation of Sonect Mexico, S.A.P.I. de C.V., Electronic Payment Funds Institution
The National Banking and Securities Commission authorizes SONECT AG and UAB SONECT EUROPE to organize and operate an Electronic Payment Funds Institution named Sonect Mexico, S.A.P.I. de C.V. The entity is subject to a minimum fixed social capital of 15,000,000.00 Mexican pesos and must comply with the Law for the Regulation of Financial Technology Institutions and applicable general provisions. The authorization is intransmissible, and the institution must demonstrate compliance with operational requirements at least thirty business days before commencing activities.